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Similarity

?

100%

93%

%

Annual Fees

?

$58.19

(0.57% Exp. Ratio)

$30.62

(0.30% Exp. Ratio)

( Exp. Ratio)

Future Est. Balance in 30 yrs

Assuming 2.08% annual return

$15,617.64

$16,941.31

Est. savings over 30 yrs

—

+$1,323.67

+

Return

As of 11/30/16

1 YR RETURN

0.48%

3 YR

5.46%

5 YR

5.26%

10 YR

3.39%

1 YR RETURN

0.95%

3 YR

6.16%

5 YR

--

10 YR

--

1 YR RETURN

3 YR

5 YR

10 YR

Description

The investment seeks to provide current income exempt from regular federal income tax.
The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in obligations issued by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax. It normally acquires municipal obligations with maturities of ten years or more, but may acquire securities with shorter maturities.

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the Solactive Municipal Infrastructure Revenue Bond Index (the "underlying index").
The fund will invest at least 80% of its total assets (but typically far more) in instruments that comprise the underlying index. The underlying index is comprised of tax-exempt municipal securities issued by states, cities, counties, districts, their respective agencies, and other tax-exempt issuers. The fund is non-diversified.

The fees, balance and savings information above are estimated numbers, based on the data FeeX had at the day of publication, but may not be accurate due to incomplete or erroneous data.

The best choice is based on a combined analysis of lowest fees and highest similarity to the original fund.

Similarity

FeeX's similarity algorithm analyzes over 15 investment characteristics like investment category, asset allocation, strategy, geographical allocation and more. FeeX gives each its own weight and calculates the similarity of any two investments based on a scale of 0 to 100%. Funds with a similarity ranking of 85% and higher are considered "similar".

Yes, funds and ETFs charge fees

Deep within every fund you own lies a hidden fee called expense ratio. It takes away a set % of your savings each and every year. It can often be easily reduced by switching to similar investments with lower expense ratios.

Resources

FeeX, Inc. ("FeeX") is an SEC-registered investment adviser. There are
many considerations which may influence your investment choices. FeeX's focus is on the fees
that you may be paying in your current investments versus the fees you could be paying in other
investments. FeeX does not aim to assess your investment style and allocation choices. FeeX
uses its best judgment in recommending similar alternatives with lower fees, but cannot
guarantee the performance of any recommended investment product or account. For additional
details regarding our advice and the risks of changing investment accounts, please see
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should not be construed as a distribution, or an offer to sell securities. FeeX's Concierge Service is an administrative service that does not consist of advice, and all investment advice is provided via the website. FeeX will not
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applicable securities law, be liable for any loss as a result of the use of our services. Investing in
mutual funds, exchange traded funds, and other securities carries risk of all or part of the amount
invested. Market data is provided by Morningstar. Past performance information is not indicative
of future returns.